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RetailISCO 4212

Odds compiler

An odds compiler is a person who sets the prices in betting, working for a bookmaker, a betting exchange, a lottery, an online operator or a casino, and quoting odds on events such as sporting results for customers to bet on.

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Rate 5 of the 10 essential skills of this occupation (European ESCO data). No account needed.

display betting information

persuade clients with alternatives

solve problems in gambling through digital means

follow ethical code of conduct of gambling

place bets

About odds compiler

The compiler calculates the probability of particular events and the corresponding betting odds, and calculates the target probability built into a book, which sets the bookmaker's margin. The compiler needs to know the rules of the games and events being priced and how betting works.

The compiler is also involved in the trading aspects of gambling, monitors customer accounts and the profitability of the business, may be required to check the bookmaker's financial position and adjust that position and the prices accordingly, and may advise on whether a bet should be accepted at all.

Gambling problems are resolved by digital means where the business operates online. Legal standards in gambling govern what may be offered, to whom and with what information, and the ethical code of conduct in gambling guides the work and protects customers who can be harmed by gambling.

European Skills Framework

Skills and knowledge areas required for this occupation based on European classification.

Essential (10)

mathematicsmathematicsMathematics is the study of topics such as quantity, structure, space, and change. It involves the identification of patterns and formulating new conjectures based on them. Mathematicians strive to pr...legal standards in gamblinglegal standards in gamblingThe legal requirements, rules and limitations in gambling and betting activities.games rulesgames rulesSet of principles and rules that govern a game.display betting informationdisplay betting informationAnswer betting queries and put betting information on display.persuade clients with alternativespersuade clients with alternativesDescribe, detail, and compare possible alternatives that clients could take about products and services to persuade them to take a decision that benefits both the company and the client.solve problems in gambling through digital meanssolve problems in gambling through digital meansUse ICT resources, tools and competence in order to solve gambling, betting and lottery problems such as game operation problems.follow ethical code of conduct of gamblingfollow ethical code of conduct of gamblingFollow the rules and ethical code used in gambling, betting and lottery. Keep the entertainment of players in mind.place betsplace betsPlace bets for sports and racing activities.work out oddswork out oddsMake informed decisions to work out the odds for sports and races.calculate betting target oddscalculate betting target oddsCalculate betting target odds to guarantee profitability for the house and fair share for the customers.
Optional (6) — show
sporting eventssporting eventsPossess an understanding of different sporting events and conditions that can affect a result.speak different languagesspeak different languagesMaster foreign languages to be able to communicate in one or more foreign languages.apply gaming psychologyapply gaming psychologyEmploy human psychology principles for gaming development strategies in order to create appealing games.conduct gambling gamesconduct gambling gamesCarry out all gaming operations in a casino for example, including table administration, opening and closing procedures.Perform these operations according to the required standard and in line with req...apply knowledge of human behaviourapply knowledge of human behaviourPractice principles related to group behaviour, trends in society, and influence of societal dynamics.tolerate stresstolerate stressMaintain a temperate mental state and effective performance under pressure or adverse circumstances.

Related Occupations

Occupations that need many of the same essential skills, so the move between them is shortest.

bookmaker4 shared essential skillsgambling games developer4 shared essential skillsgambling quality assurance engineer4 shared essential skillslottery operator4 shared essential skillsgambling games designer3 shared essential skillsgaming inspector3 shared essential skillsbetting manager2 shared essential skillsbingo caller2 shared essential skills

Frequently asked questions

What does an odds compiler do?

Odds compilers are in charge of counting the odds in gambling. They are employed by a bookmaker, betting exchange, lotteries and digital/on-line as well as casinos who set the odds for events (such as sporting outcomes) for customers to place bets on. Apart from pricing markets, they also engage in any activity regarding the trading aspects of gambling, such as monitoring customer accounts and the profitability of their operations. Odds compilers may be required to monitor the financial position the bookmaker is in and adjust their position (and odds) accordingly. They may also be consulted as to whether to accept a bet or not.

What skills does an odds compiler need?

An odds compiler needs 10 essential skills, including mathematics, legal standards in gambling, games rules, display betting information, persuade clients with alternatives.

Will AI replace odds compiler jobs?

The AI disruption score for odds compiler is 83/100 (very high risk). Skills most exposed to automation: work out odds, calculate betting target odds, display betting information. Most resilient: tolerate stress, follow ethical code of conduct of gambling, sporting events.

AI Replacement Risk

83/ 100
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Quick Facts

SectorRetail
ISCO GroupCustomer services clerks
Essential Skills10

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